Earlier today, Verizon Wireless unveiled its Q1 2018 earnings.
The result of its earnings showed a mix of numbers for the wireless carrier. But as a whole, many analysts from Wall Street believe that Verizon is making progress on positioning itself in this industry.
For starters, the wireless carrier reported having a net increase of 260,000 connections on retail postpaid customers just this quarter alone. This makes up the 359,000 gains the company had on other connected devices offset by its 24,000 net phone losses and 75,000 tablet losses. Throughout the quarter, the company had 220,000 postpaid smartphone net additions.
Meanwhile, the company’s net retail connections dropped by 75,000. This can be attributed by the 335,000 decrease in its prepaid customers. Analysts from Wall Street firm, Oppenheimer, believe that this is caused by the wireless network’s focus on its postpaid plans over prepaid.
Even though Verizon lost some customers during Q1, it still is a better number than the 289,000 customers that the company lost during the same period last year. Analysts even anticipated that the company would have 50,000 losses. Still, Verizon proved to have better numbers than expected.
The company is determined that they are currently on track for positive growth. Analysts agree with this mindset and believe that Verizon’s unlimited wireless service has a better offering than its competitors. Together with its reductions on expenses, these are the things that led the company to have steady results this quarter.
Source: Fierce Wireless